Dollar falls back versus euro

December 29, 2010 | 15:47

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The dollar fell back against the euro in Asia Wednesday following an earlier buy-up of the greenback triggered by a rise in US bond yields, dealers said.

The euro rose to $1.3124 in Tokyo afternoon trade against $1.3116 in New York late Tuesday. The single European currency was flat at 108.00 yen.

The dollar fell to 82.27 yen from 82.43 yen.

The euro was down against the dollar on broad demand for the US currency as Treasury yields rose overnight following a lacklustre sale of US five-year notes, Satoshi Tate, senior dealer at Mizuho Corporate Bank, told Dow Jones Newswires.

The poor bond sale triggered "the last round of dollar-buying" this year, Tate said.

The yen showed strength against the dollar supported in part by month-end dollar sales by Japanese exporters, dealers said.

The dollar was mixed against other Asian currencies. It rose to 1.2977 Singapore dollars from 1.2970 on Tuesday and to 43.91 Philippine pesos from 43.90.

It dipped to 29.41 Taiwan dollars from 29.48, to 9,011.50 Indonesian rupiah from 9,028.25 and to 30.17 Thai baht from 30.18.

AFP

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